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This paper explores the purpose of a business and whether business should engage only in an activity that has a business case. Using secondary research to find answers, the opposing views of seven groups - historical figures, Nobel Prize winners, management thinkers, academics in finance and economics, business practitioners, media, and philosophers - were sampled and matched to determine whether the worth of a business activity is limited by its contribution to profit generation and the maximisation of shareholder value…
First, we discuss the appropriate nature of the topic, define its focus or scope, describe and explain the context in which the paper aims to answer the research question and the peripheral questions that proceed from the search for the answers, establish the rationale for the paper, and enumerate clearly the aims and objectives for the study.
Like other observable facts of life, there are two ways of knowing the purpose of a thing. One can observe and discover what that thing does, or if one knows how that thing came to be, that is, it was created by another rational person to whom we can talk, there is a simpler way: to ask.
After years of daily observation and questioning, it is this researcher's common understanding that a business is an artificial (something created or put together, as opposed to natural, that is, existing in nature) form of social organisation that fulfils three main goals: it keeps the person who created it busy, it provides the same person some amount of income, and it provides a product or service that meets a need of a portion of society.
At the start of the research study, this researcher considered these as the main purposes of a business, and as long as thes ...
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